The global inventory tags market size is projected to grow from USD 4.08
billion in 2016 to reach USD 5.07 billion by 2021, at a CAGR of 4.43%.

Increasing concerns for efficient tracking of an enterprise's assets,
the need for managing an efficient supply chain, and rising counterfeit
products in the market are factors encouraging manufacturing to use
inventory tags technologies. Real time tracking has wide applications in
industry verticals such as healthcare, logistics & transportation,
industrial manufacturing, process industries, government, defense, and
retail among others.

The industrial sector is projected to be the fastest-growing end-use
sector in the next five years. Due to the stringent laws & regulations
enacted by the government towards theft and counterfeiting, and the
increasing importance given to package security by manufacturers, the
demand for inventory tags technologies is projected to grow in this
sector.

Europe accounted for the largest share in the inventory tags market in
2015, and is projected to dominate the market during the forecast
period. The market for Asia-Pacific is projected to grow at the highest
CAGR during the forecast period. Rise in counterfeit products present in
the market, increasing brand awareness, awareness among buyers about
product information, the growing e-commerce industry, developments in
printing technologies, and concerns regarding the impact of counterfeit
products on the brand image of genuine products are driving the
inventory tags market.

Due to technological developments in countries such as Germany, the
U.K., and France, the inventory tags market in these countries is
projected to grow at a much higher rate than the remaining European
countries